Companies & CEOs
Verizon-Yahoo deal may get scuttled - 11/10/2016
Yahoo! is afraid that sale of the company’s core business to Verizon Communications for $ 4.8 billion is at risk due to data on 500 million users stolen back in 2014, according to Business Insider, with reference to a report filed by the Securities and Exchange Commission (SEC). In addition, Yahoo! announced that it has received 23 lawsuits in connection with the data leakage. The document states...
Bids for Anheuser-Busch InBev beer brands totaled € 5 billion - 11/09/2016
According to Reuters, Anheuser-Busch InBev has received six preliminary bids for some of its beer brands, totaling over € 5 billion. Among the buyers are listed several large breweries and private equity funds. Belgian company Anheuser-Busch InBev has completed the first round of applications for purchase some of its beer brands sold under the merger deal with British SABMiller. Namely,...
Weak sales drive Marks and Spencer clothes out of business - 11/08/2016
British retail chain Marks & Spencer announced plans to close 30 stores in the UK, and other 53 - abroad. This decision is associated with attempts to restore position of the company, which share price fell by 22%, and operating profit was down by 18.6%. New head of M&S Steve Rowe noted that the retailer plans to focus on food sector, rather than on the problematic divisions of clothing and...
General Electric to merge its oil and gas division with Baker Hughes - 10/28/2016
According to The Wall Street Journal, General Electric corporation (GE) is negotiating with the world’s third-largest oilfield services company Baker Hughes to unite it with its oil and gas business. Experts believe that after merger will allow GE to allocate this division into a separate company. GE itself acknowledged talks with Baker Hughes, but said that it will be not a direct purchase. On...
Snapchat aims to raise $ 4 billion during IPO - 10/27/2016
Snapchat messenger plans to raise $ 4 billion during IPO, which should take place in the next year. According to Bloomberg’s sources, total value of the company, which recently changed its name to Snap, is estimated at $ 25-35 billion. Some say the value could even reach $ 40 billion. It is expected that the company will apply for IPO in the first quarter of next year, probably in March. So far,...
Boeing and Airbus published earnings reports - 10/26/2016
Today, European Airbus Group reported on results of its operations for the third quarter and first nine months of the year. Quarterly profit fell by 21% to € 731 million. The company explained this by the fact that timing of main supply of aircraft fall to a later period. Above other reasons are mentioned decrease in production of A330 model, a moderate rise in costs and a transitional period in...
China Oceanwide to buy an American insurer for 2.7 billion - 10/24/2016
Genworth Financial Inc., the dominant operator in the field of long term insurance for health care in the United States, agreed to sell its business to Chinese investment company Oceanwide because of low interest rates and rising prices, says The Wall Street Journal. Chinese Investment company China Oceanwide Holdings Group will pay about $ 2.7 billion for Genworth. In the past two years, China...
British American Tobacco made a $ 47 billion offer to Reynolds - 10/21/2016
British American Tobacco, owns 42.2% stake in Reynolds American, made a bid for the remaining 57.8% of the American company. The deal amounted to $ 47 billion, including $ 20 billion in cash and $ 27 billion in BAT shares, states the company’s message. BAT is offering $ 56.5 per Reynolds’ share, which is equivalent to a 20% premium to the closing price on 20 October. Reynolds’ enterprise cost is...
Shell to divest its Canadian assets - 10/21/2016
Dutch-British oil company Royal Dutch Shell announced sale of non-core oil and gas assets located in western Canada to Tourmaline Oil Corp. The deal is worth $ 1.03 billion. This asset is the last that the energy company has in the region. In other words, it means that Shell is completely discontinuing activities in Canada, reports Reuters. Shell said it intends to sell 206 thousand acres (83.37...
Glencore to sell its Australian coal haulage business - 10/20/2016
Glencore Plc. sold its coal haulage railway Grail in Australia to US rail operator Genesee & Wyoming Inc. for 1.14 billion Australian dollars ($ 873 million) within the company’s ambitious program to reduce debt. Sale of GRail is "a significant portion" of the debt reduction program, commented Baar, a Swiss trader. The transaction price is higher than previously assigned value of $ 1...
